Palace hails PH’s increased exports

Malacañang on Friday lauded the country’s 18.9 percent increase in merchandise exports in November 2013.

Citing a report from the National Statistics Office (NSO), Palace pokesman Edwin Lacierda said that for the sixth consecutive month since June 2013, the Philippine merchandise exports showed positive growth.

He said that the country’s exports grew by 18.9 percent in November 2013 to $4.3 billion from $3.6 billion in November 2012.

Lacierda attributed the growth to higher exports in petroleum, minerals, and forest products, as well as manufactures and total agro-based products such as fish products, centrifugal and refined sugar, desiccated coconut, and bananas.

“This expansion speaks of the potential of our manufacturing and agricultural sectors, the latter of which is one of our government’s priority sectors for its potential to boost growth in the countryside,” he added.

According to Lacierda, the Philippines’ year-on-year export growth was the fastest among selected trade-oriented economies in the East and Southeast Asian region.

“This is positive news for our government, as we continue in our pursuit of sustained economic growth that benefits all Filipinos—growth that leaves no one behind,” he said. CATHERINE S. VALENTE